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COBALT advised Rubylight on investment in Jodel

2016-02-22

Technology investment fund Rubylight and Swiss VC Redalpine completed an investment in Berlin-based social newsfeed Jodel. The parties have not disclosed the size of the financing round.

Jodel is an online community providing real-time updates on what’s happening in the area around the user and at the user’s university. Users may post anonymously via iOS or Android app without sign-up or user profile. By up and down voting users get to decide which posts get more attention. The app has become popular among students at many universities and colleges across Europe.

The latest round followed two venture financing rounds that took place in 2015. Jodel’s existing investors include well-known VCs such as Global Founders Capital, Tenderloin Ventures and Atlantic Labs.

Rubylight was advised by partner Kristel Raidla-Talur and associate Greete-Kristiine Kuru. German law firm Heuking Kühn Lüer Wojtek was engaged for conducting due diligence and covering local law aspects of the transaction.